Trump Threatens to Add $200 Billion in More Tariffs

Dan Industry News Release, Trade

Bloomberg says President Trump wants to proceed with another $200 billion in tariffs on Chinese imports as soon as the public comment period wraps up next week. Six people familiar with the matter spoke anonymously with Bloomberg for the article. Companies and people have until September 6th to submit comments on duties that will cover everything from semiconductors to selfie sticks.

trumpSome sources say the president will implement the tariffs and others say there hasn’t been a final decision yet. It’s possible that the tariffs will either come in installments or several weeks after an official announcement.

Bloomberg says the latest tariff threat is causing heated debate within the administration. U.S. Trade Rep Robert Lighthizer and trade adviser Peter Navarro are pushing for quick action. Treasury Secretary Steven Mnuchin and economic adviser Larry Kudlow are asking for more time.

If implemented, the $200 billion in additional tariffs would be the biggest number imposed to date and mark a major escalation in the trade war between the worlds’ two biggest economies.

Source: National Association of Farm Broadcasting News Service.